S.C. Code § 38-27-90

Current through 2024 Act No. 225.

Section 38-27-90 - Bonds

In any proceeding under this chapter, the director and his designee(s) are responsible on their official bonds for the faithful performance of their duties. If the court considers it desirable for the protection of the assets, it may at any time require an additional bond from the director or his designee(s). These bonds must be paid for out of the assets of the insurer as a cost of administration.

1993 Act No. 181, Section 609; Former 1976 Code Section 38-5-1870 [1982 Act No. 384, Section 7] recodified as Section 38-27-90 by 1987 Act No. 155, Section 1; 1985 Act No. 37] recodified as Section 38-39-80 by 1987 Act No. 155, Section 1; 1983 Act No. 34; 1982 Act No. 378; 1980 Act No. 455; 1971 (57) 709, 937; 1967 (55) 273; Former 1976 Code Section 38-27-90 [1962 Code Section 37-1309.